amfam telecon august 13th
TRANSCRIPT
1© 2009 Wright Business Institute, Inc.1
Teleconference #3: Value-Based Relationships and Marketing
© Wright Business Institute, Inc.E-mail questions to [email protected]
2© 2009 Wright Business Institute, Inc.2
Step It Up Competition
E-mail questions to [email protected]
3© 2009 Wright Business Institute, Inc.
► Open to all registered Business Accelerator participants
► One winner in each city (Chicago, Phoenix, and Denver)
► Advantage For Sales training program from Wright Business Institute – 6 sessions live or via web/phone
► Marketing strategy session from Hi-Impact Marketing
► $500 Staples gift certificate
Step It Up Competition
4© 2009 Wright Business Institute, Inc.
► Contestants will be judged on:
► Thoroughness
► Impact
► Creativity
► Entry forms are online at www.AmfamBusinessAccelerator.com and can be submitted between October 1st and October 22nd
► Winners will be announced at the November Business Mixers in each of the cities
Step It Up Competition
5© 2009 Wright Business Institute, Inc.5
Value-Based Relationships and Marketing
E-mail questions to [email protected]
6© 2009 Wright Business Institute, Inc.
Today’s Topics
► Knowing Yourself and Your Dynamic Value
► Introducing Yourself to Sell
► The Evolution of Business Through Marketing
► Upcoming Teleconferences and Success Activities
7© 2009 Wright Business Institute, Inc.7
The Evolution of Business Through Marketing
E-mail questions to [email protected]
8© 2009 Wright Business Institute, Inc.
Today we will review the evolution of marketing as businesses
develop. Watch for your position and plan your evolution.
Businesses Go Through Marketing Development Phases
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The Map - Getting To Know Where You Are
Level 1
Level 2
Level 3
Level 4
Level 5
Level 6
Initiating
Establishing
Emerging
Differentiating
Generating
Self-Developing
10© 2009 Wright Business Institute, Inc.
Marketing at the Initiating Phase
Level 1 Initiating
Level 2 Establishing
Level 3 Emerging
Level 4 Differentiating
Level 5 Generating
Level 6 Self-Developing
• Starting out• Building capacity• You make business cards and may have
a brochure and even a web site.• You are confused about marketing
versus selling.• You have either over-spent or under-
spent on marketing.• Your main job is to sell. Marketing
demands such as brochures and web sites become a block to just getting out and finding people who need your product or service.
11© 2009 Wright Business Institute, Inc.
Marketing at the Establishing Phase
Level 1 Initiating
Level 2 Establishing
Level 3 Emerging
Level 4 Differentiating
Level 5 Generating
Level 6 Self-Developing
• Getting the hang of your business• Figuring out how to sell and deliver as
promised• You have business cards, a web site,
brochures, and may even have tried advertising in a local newspaper or magazine.
• You begin building your database of contacts with a simple solution such as Outlook.
• You may have a few lines or even a box ad in the yellow pages.
• You may have several web affiliate ads.• If you are under 45 you likely are on
Facebook, and everyone is likely to be on LinkedIn.
12© 2009 Wright Business Institute, Inc.
Marketing at the Emerging Phase
Level 1 Initiating
Level 2 Establishing
Level 3 Emerging
Level 4 Differentiating
Level 5 Generating
Level 6 Self-Developing
• You have all of the above—web site, brochures, web affiliates—and you may even have engaged a marketing consultant. E-letters are great ways to let prospects know more about you and your product or service.
• If you haven’t already, you are developing a strong branding strategy.
• You could be developing your first marketing plan.
• You are learning to deliver more impactful messaging—developing a unique look, personality, and consistency in your message.
• You begin articulating some proprietary thinking or your own methodology or approach to your product or service.
• Key challenges: Making the best allocation of resources for maximum business benefit.
13© 2009 Wright Business Institute, Inc.
Marketing at the Differentiating Phase
Level 1 Initiating
Level 2 Establishing
Level 3 Emerging
Level 4 Differentiating
Level 5 Generating
Level 6 Self-Developing
• In addition to the above, you are considering new marketing initiatives such as user-groups.
• You may even have a full-time marketing person, but more likely have a person wearing that hat and a lot of others.
• You are marketing effectively, getting your name quoted as an expert, and being profiled by or writing articles for local/ electronic media and trade publications.
• You refine your customer relationship management program or database.
• You are managing your web universe more effectively and providing extra value marketing in newsletters and other vehicles.
• You may have delved into your first competitive analysis.
14© 2009 Wright Business Institute, Inc.
Marketing at the Generating Phase
Level 1 Initiating
Level 2 Establishing
Level 3 Emerging
Level 4 Differentiating
Level 5 Generating
Level 6 Self-Developing
• You have a marketing person full time who is charged with keeping you in front of the population you serve.
• You likely have regular print and electronic presence.
• Your web universe maintains powerful conversations with customers.
• Your brand is strong and you use outside marketing support to refine your messaging and move aggressively into the market place.
• You may be venturing into broadcast advertising.
• If you are a consulting firm, your marketing department places articles and finds speaking engagements for staff in addition to other traditional marketing services, managing all your messaging and materials.
• You are likely using outside business intelligence and competitive analytics.
15© 2009 Wright Business Institute, Inc.
Marketing at the Self-Developing Phase
ThisLevel 1 Initiating
Level 2 Establishing
Level 3 Emerging
Level 4 Differentiating
Level 5 Generating
Level 6 Self-Developing
• You have a full-service marketing department.
• You use outside agencies for your advertising in all media.
• You are moving aggressively into all forms of electronic marketing.
• You budget for marketing annually and have different types of marketing professionals on staff or under contract. These include event marketing, broadcast, print, and specialists in specific market segments such as children, women, etc. depending on your products and services.
• You are deeply engaged in competitive analytics and business intelligence to guide your marketing strategies.
16© 2009 Wright Business Institute, Inc.16
Knowing Yourself and Your Dynamic Value
E-mail questions to [email protected]
17© 2009 Wright Business Institute, Inc.
► Defining variables that distinguish a company in the marketplace
► Mapping yourself against your competition on key variables
► Establishing the foundation for your unique selling proposition
► Establishing the foundation for branding and positioning.
Overview of Dynamic Value
“Dynamic Value” is a phrase coined by Marshall Thurber, Success Secrets of the 21st Century
18© 2009 Wright Business Institute, Inc.
Product Value Scale
COMM
ODITY
PRODUCT
SERVICE
EXPERIENCE
TRANSFORMATION
“Dynamic Value” is a phrase coined by Marshall Thurber, Success Secrets of the 21st Century
19© 2009 Wright Business Institute, Inc.
Dynamic Value Example
“Dynamic Value” is a phrase coined by Marshall Thurber, Success Secrets of the 21st Century
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MY
FEATURES & BENEFITS
Identifying Features and Benefits: Yours and Your Competitors’
MY COMPETITORS’
FEATURES & BENEFITS
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Graph Your Features & Benefits
22© 2009 Wright Business Institute, Inc.
► They don’t.
► They live in denial.
► They only look at it from their point of view, not their customers’.
► They fail to identify defining and differentiating variables.
► They confuse benefits and features.
Mistakes People Make in Calculating Dynamic Value
23© 2009 Wright Business Institute, Inc.23
Introducing Yourself to Sell
E-mail questions to [email protected]
24© 2009 Wright Business Institute, Inc.
► Maximum of 17 seconds
► “What do you do?”
► Engagement
► Missed opportunity
► Refine your answer in the most satisfying way
Opinions are Formed Sooner than You Think
25© 2009 Wright Business Institute, Inc.
► Know Yourself
► Know your strengths and weaknesses
► Know your Dyval
► Know how you come across
► Know Your Customer
► Know their Dyval
► Know their strengths and weaknesses
► Know their needs
Building Strong Rapport – Being a Trusted Advisor
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► Your features and benefits in 30 seconds or less
► Examples
Elevator Speech
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► Slogans: under your name on your stationery
► Bumper stickers: more conversational
► Shorter than elevator speech (4-5 words)
► An answer to “What do you do?” thatcompels a follow-up question
Bumper Stickers and Slogans
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American Family Business Accelerator Program
Upcoming Teleconferences and Success Activities
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Looking Forward
What’s Next?
Knowing Where You Stand: Defining the Game• Establishing vital systems and monitors to understand the state of your business• • Getting Down to Business: Selling & Essential Daily Activity• Setting up effective disciplines, intentional networking, and negotiating deals• • Building Relationships• Creating your vision, developing and leveraging your network
• Marketing Tools• Developing your brand and mastering marketing tools• • Systemizing Your Activity for Growth• Anticipating and getting around roadblocks; understanding your business and its sales cycles• • Leading Your Business, Leading Your World• Building a culture, getting work done through others, and getting the most from what you have
30© 2009 Wright Business Institute, Inc.
Teleconference #4: Mastering Marketing Tools
Panel of Experts on affordable marketing tools for small businesses
► Internet Marketing
► Public Relations
► Direct Mail
► E-mail Marketing
31© 2009 Wright Business Institute, Inc.
Ongoing Support and Involvement
• Monthly Teleconferences• Weekly E-Tips• Assignments• Contests• Break Room
► Panel of Experts► Growth Coach Forum
• Special Offerings